LV wins best Equity Release Provider award
Hitchin based investment, pensions and insurance group LV= has won the Best Equity Release Provider title at this year s Your Mortgage Awards. The annual awards, now in their 19th year, are the longest standing awards in the industry and are a benchmar
Hitchin based investment, pensions and insurance group LV= has won the Best Equity Release Provider title at this year's 'Your Mortgage' Awards.
The annual awards, now in their 19th year, are the longest standing awards in the industry and are a benchmark for excellence in the consumer mortgage market. They recognise and reward those financial institutions who have excelled in their field over the last 12 months.
The voting panel for the awards comprised of 180 active mortgage brokers throughout the country.
Barney McCarthy, Editor of Your Mortgage, said: "Your Mortgage's Best Equity Release Provider award recognises the quality of the LV= equity release product range. Our voting panel was impressed with the LV= Flexible Lifetime Mortgage, as well as its conventional lifetime mortgage offering a lump sum option. This allows homeowners to borrow a percentage of their property value as a single lump sum. We congratulate LV= on its award, which is even more impressive given the short length of time it has been in the market."
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The recently launched LV= Flexible Lifetime Mortgage allows homeowners to draw down funds from the equity in their home when they need to, and offers homeowners a 15-year guarantee on the maximum loan amount that can be drawn down. This means that whatever happens to interest rates and property prices, homeowners have the peace of mind of knowing that throughout this period they can access the total amount agreed at the outset.
In addition, the LV= Flexible Lifetime Mortgage comes with a No Negative Equity Guarantee, meaning that homeowners will never have to pay back more than the value of their home on death or permanent entry into long term care.
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Vanessa Owen, Head of Equity Release at LV= said: "We are delighted to win this award, especially as LV= has only been offering equity release products for less than a year. We believe that releasing equity from the home really can give people lifestyle choices in retirement. It is fantastic to receive external recognition that has taken into account the views of both consumers and mortgage brokers.